IMF expects Bank Al-Maghrib to resort to a new interest rate increase

Afaf Fahchouch
Afaf Fahchouch
1 Min Read

The International Monetary Fund mission has affirmed to Morocco the importance of raising the primary interest rate in the future to curb inflation and stabilize it again at about 2 percent by 2024.

the IMF report stated after consultations with the Moroccan authorities, that there are expectations of a decline in inflation during the next year, while there are also expectations about world prices declining for raw materials.

IMF officials described the decision to raise the main interest rate by Bank Al-Maghrib in September as a “right decision” to counter the accelerating pace of rising prices of raw materials at the global level, especially those related to nutrition and energy.

It is expected that the Bank Al-Maghrib board will meet on the 20th of December, the fourth and final date of the current year, while they will decide whether to maintain, lower or raise the key interest rate, and also to release new expectations regarding growth, inflation and deficit.

Afaf Al Fahchouch

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